Residency by Investment in the GCC: A Golden Opportunity

The Gulf Cooperation Council (GCC) is emerging as a hotspot for investment migration, with countries like Saudi Arabia, the United Arab Emirates, Oman, and Qatar leading the charge.

The GCC has greatly flourished in terms of infrastructure, healthcare, education, economic growth, and living standards in the past few decades and now provides one of the world's best livable regions.

The bloc is an economic superpower, mainly due to its high-output oil-based economy, but GCC members are quickly diversifying their economies and are rapidly becoming major global trading zones that attract businesses from every corner of the globe.

One area where the GCC was found lacking in the previous decade was its immigration policies, which Gulf governments are quickly revamping. A significant development has been the introduction of golden visas into the GCC. These residency by investment programs help attract more talent, FDI, and businesses to the region.

As these nations enhance their golden visa programs, they are attracting a growing number of global investors seeking economic opportunities and high quality of life. Let's take a closer look at the residency-by-investment landscape in the GCC.

United Arab Emirates (UAE)

The UAE has been a trailblazer in the investment migration landscape, offering two distinct pathways for investors seeking long-term residency: the Golden Visa and the recently introduced Blue Visa.

Golden Visa

The UAE's golden visa program has been a resounding success, with over 6,800 investors and their families approved in its initial phase, bringing in more than AED 100 billion ($27 billion) in investment.

This program is a key part of the UAE's strategy to diversify its economy and reduce oil dependency, aligning with its goal to increase the non-oil GDP contribution to 80% by 2030.

The UAE's Golden Visa is a long-term residence visa that enables foreign talents to live, work, or study in the UAE while enjoying exclusive benefits. These benefits include:

• An entry visa for 2 months with multiple entries to proceed with residence issuance
• A long-term, renewable residence visa valid for 10 years
• The privilege of not needing a sponsor
• The ability to stay outside the UAE for more than the usual period of six months while maintaining a valid residence visa
• The ability to sponsor family members, including spouses and children regardless of their ages
• The ability to sponsor a limited number of domestic helpers
• The permit for family members to stay in the UAE until the end of their permit duration, even if the primary holder of the Golden Visa passes away

To qualify for the Golden Visa, investors have several options:

1. Real Estate Investment: Investors who own one or more properties with a total value of not less than AED 2 million ($544,000) are eligible for a 10-year Golden Visa. A new regulation allows investors to purchase property for 50% of the minimum investment amount, provided they pay the remaining amount within the visa's validity period.
2. Fixed term deposit: Investors who invest AED 2 million ($544,000) in fixed term deposits in local banks accredited in the UAE or have a valid commercial or industrial license with a capital of not less than AED 2 million can obtain a 10-year Golden Visa.
3. Entrepreneurship: Entrepreneurs who own an economic project of a technical or future nature based on risk and innovation, with a minimum value of AED 500,000 ($136,000), can secure a 5-year Golden Visa.

The UAE also offers Golden Visas to outstanding specialized talents, including doctors, scientists, inventors, executives, and athletes, among others.

This program is a key part of the UAE's strategy to diversify its economy and reduce oil dependency, aligning with its goal to increase the non-oil GDP contribution to 80% by 2030.

Blue Visa

The Blue Visa is a new 10-year residence visa designed for individuals who have made an exceptional contribution to environmental protection and sustainability, both inside and outside the UAE. This visa is available to both Emiratis and resident advocates of the environment, including members of international organizations, companies, associations, and NGOs, as well as global award winners and distinguished activists and researchers in environmental work.

With a GDP of $421 billion and a strategic location connecting East and West, the UAE offers a vibrant business environment and an unparalleled quality of life.

The country's tax-free environment, coupled with its visionary leadership and ambitious plans for the future, make it an attractive destination for investors seeking long-term growth and stability.

Kingdom of Saudi Arabia (KSA)
Saudi Arabia's Vision 2030 is a game-changer, aiming to attract foreign investment and increase the private sector's contribution to GDP from 40% to 65%.

Saudi Arabia has recently introduced its own golden visa program, known as the Saudi Premium Residency by Investment Program. This initiative is part of the country's Vision 2030, which aims to attract foreign investment and increase the private sector's contribution to GDP from 40% to 65%.

The Saudi Premium Residency by Investment Program offers two options for investors:

1. Limited Duration Premium Residency: This option requires an annual investment of 100,000 SAR (approximately $26,600) and grants residency for one year, renewable annually.
2. Unlimited Duration Premium Residency (Permanent): This option requires a one-time investment of 800,000 SAR (approximately $213,000) and grants permanent residency in Saudi Arabia.

Benefits of the Saudi Premium Residency include:

• Use of airport lanes reserved for Saudi citizens
• Ability to own and operate a business in accordance with foreign investment regulations
• Freedom from the current requirement for an exit-reentry permit for foreigners working in Saudi Arabia
• Ability to apply for family member visiting visas
• Possibility of hiring domestic helpers like housemaids
• Possibility of purchasing and owning property in the kingdom

To be eligible for the Saudi Premium Residency, applicants must be at least 21 years old, have a valid passport, and have a clean criminal record. They must also provide evidence of financial stability and a recent medical report confirming the absence of communicable diseases.

With its strategic location, growing economy, and ambitious vision for the future, Saudi Arabia is an attractive destination for investors seeking new opportunities in the Middle East.

The Saudi Premium Residency by Investment Program, coupled with the country's ongoing economic diversification efforts and mega-projects like NEOM, make it a compelling choice for those looking to secure a stable and prosperous future in the region.

With a GDP of $700 billion, Saudi Arabia is the largest economy in the GCC, offering significant opportunities for investors across various sectors.

Oman

Oman's Investor Residence Program, launched in 2021, offers long-term residency to foreign investors, contributing to a 10% increase in foreign direct investment (FDI) that year.

The program requires a minimum investment of OMR 250,000 (approximately $649,000) in real estate, company shares, or investment funds.
Oman offers a competitive corporate tax rate of 15%, coupled with various incentives for investment in free zones and special economic areas.

The country's strategic location, stable political environment, and growing economy make it an attractive destination for investors.

Qatar

Qatar's liberalization of its property market, allowing foreign ownership in more areas, complements its Investment Residence Program, making it an appealing option for investors. The program saw a significant boost in the lead-up to the 2022 FIFA World Cup, which drove a 20% growth in its real estate sector.

To qualify for Qatar's Investment Residence Program, investors must purchase property worth at least QAR 730,000 (approximately $200,000) or invest QAR 3.65 million (approximately $1 million) in the country's economy.

With its tax-free environment, high standard of living, and thriving economy, Qatar offers a compelling proposition for investors seeking growth and stability.

A new immigration frontier

The GCC's residency by investment programs offer a golden opportunity for global investors seeking economic growth, tax efficiency, and a high quality of life.

As these countries continue to diversify their economies and create investor-friendly environments, they are well-positioned to become major players in the investment migration landscape. With their strategic initiatives, world-class infrastructure, and commitment to sustainable living, the GCC countries offer a holistic destination for investors looking to secure their future in a dynamic and thriving region.

To get the best experience possible, investors should employ the services of a trusted and knowledgeable investment migration consultancy firm. At One World, we can help expertly guide you through the process of obtaining a GCC golden visa and help you set up a local infrastructure that can help you maximize the benefits the region offers.

Contact One World today to learn more.